Chinese investors pleased with co-operation

Chinese CITIC Group Corporation is one of the largest business holdings, currently implementing $40bn
Chinese CITIC Group Corporation is one of the largest business holdings, currently implementing $40bn

The construction of a business and hotel complex with a tennis court has started in Minsk with the participation of the Chinese Citic Group

of projects worldwide, with part of these investments being allocated in our country. In Belarus, the investor from the Heavenly Empire has implemented a modernisation project of three cement factories and is now building the BelGee Automobile Plant near Borisov while also reconstructing the Orsha Linen Mill. The success of previous projects inspired Chinese investors and they are ready for new injections.  

This issue was tackled during the meeting between Alexander Lukashenko and the President of the CITIC Group Corporation, Wang Jun.

Mr. Lukashenko is convinced that such partners as the CITIC Group Corporation create the economy and the foundation of the bilateral relations, enabling to make progress and to enhance all-round strategic partnership. The President called on Chinese partners to treat Belarusian people and Belarus as a very close nation and state in spite of the big distance between the two countries. The Belarusian Head of State also stressed that any joint project and product should have a high added value, minimal expenses and should rely on advanced technologies.

The Chinese guest signed a range of important agreements and memorandums while in Belarus, particularly, a general contract for the construction of Amkodor-Mash Plant. Two enterprises are to be built: a production facility in Kolodishchi, near Minsk, to assemble telescopic loaders and energy-intensive tractors, and a joint tractor plant in Novopolotsk, to manufacture up to 50,000 units annually.

The first Belarusian-Chinese investment fund is also to be launched, with initial capital of $50m. Wang Jun’s visit coincided with another important project for CITIC Group: laying a capsule into the foundations of a new multi-functional business and hotel complex on Pobediteley Avenue in Minsk, with the Chinese state corporation acting as sole investor.

Wang Jun noted that all his company’s projects in Belarus have been successful and the CITIC Group leadership sees big opportunities for co-operation development. He also voiced his hope for assisted expansion of partnership, including the attraction of other leading Chinese companies into Belarus, which is viewed as a foothold for future business.
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